KELLANOVA (KEL.DE) Stock Fundamental Analysis
FRA:KEL - Deutsche Boerse Ag - US4878361082 - Common Stock - Currency: EUR
KEL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 57 industry peers in the Food Products industry. KEL scores excellent on profitability, but there are concerns on its financial health. KEL is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
KEL had positive earnings in the past year.
KEL had a positive operating cash flow in the past year.
Each year in the past 5 years KEL has been profitable.
KEL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 8.59%, KEL belongs to the best of the industry, outperforming 91.38% of the companies in the same industry.
KEL has a Return On Equity of 35.58%. This is amongst the best in the industry. KEL outperforms 96.55% of its industry peers.
KEL's Return On Invested Capital of 14.28% is amongst the best of the industry. KEL outperforms 98.28% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for KEL is above the industry average of 7.01%.
The last Return On Invested Capital (14.28%) for KEL is above the 3 year average (11.99%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.59% | ||
| ROE | 35.58% | ||
| ROIC | 14.28% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
1.3 Margins
KEL's Profit Margin of 10.53% is fine compared to the rest of the industry. KEL outperforms 77.59% of its industry peers.
KEL's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 15.83%, KEL is in the better half of the industry, outperforming 79.31% of the companies in the same industry.
KEL's Operating Margin has improved in the last couple of years.
The Gross Margin of KEL (36.78%) is comparable to the rest of the industry.
KEL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.83% | ||
| PM (TTM) | 10.53% | ||
| GM | 36.78% |
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), KEL is creating some value.
The number of shares outstanding for KEL has been increased compared to 1 year ago.
The number of shares outstanding for KEL has been increased compared to 5 years ago.
The debt/assets ratio for KEL has been reduced compared to a year ago.
2.2 Solvency
KEL has an Altman-Z score of 3.46. This indicates that KEL is financially healthy and has little risk of bankruptcy at the moment.
KEL has a better Altman-Z score (3.46) than 86.21% of its industry peers.
The Debt to FCF ratio of KEL is 5.07, which is a neutral value as it means it would take KEL, 5.07 years of fcf income to pay off all of its debts.
KEL's Debt to FCF ratio of 5.07 is in line compared to the rest of the industry. KEL outperforms 58.62% of its industry peers.
KEL has a Debt/Equity ratio of 1.35. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of KEL (1.35) is worse than 87.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.35 | ||
| Debt/FCF | 5.07 | ||
| Altman-Z | 3.46 |
ROIC/WACC1.75
WACC8.14%
2.3 Liquidity
KEL has a Current Ratio of 0.81. This is a bad value and indicates that KEL is not financially healthy enough and could expect problems in meeting its short term obligations.
KEL has a Current ratio of 0.81. This is amonst the worse of the industry: KEL underperforms 87.93% of its industry peers.
A Quick Ratio of 0.56 indicates that KEL may have some problems paying its short term obligations.
KEL's Quick ratio of 0.56 is on the low side compared to the rest of the industry. KEL is outperformed by 75.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.56 |
3. Growth
3.1 Past
The earnings per share for KEL have decreased by -7.45% in the last year.
The Earnings Per Share has been decreasing by -0.46% on average over the past years.
KEL shows a decrease in Revenue. In the last year, the revenue decreased by -2.84%.
KEL shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.25% yearly.
EPS 1Y (TTM)-7.45%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%17.95%
Revenue 1Y (TTM)-2.84%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-1.58%
3.2 Future
Based on estimates for the next years, KEL will show a small growth in Earnings Per Share. The EPS will grow by 7.66% on average per year.
KEL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.01% yearly.
EPS Next Y3.98%
EPS Next 2Y4.77%
EPS Next 3Y5.06%
EPS Next 5Y7.66%
Revenue Next Year1.36%
Revenue Next 2Y2.11%
Revenue Next 3Y2.45%
Revenue Next 5Y4.01%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 21.46 indicates a rather expensive valuation of KEL.
The rest of the industry has a similar Price/Earnings ratio as KEL.
When comparing the Price/Earnings ratio of KEL to the average of the S&P500 Index (29.35), we can say KEL is valued slightly cheaper.
Based on the Price/Forward Earnings ratio of 20.67, the valuation of KEL can be described as rather expensive.
Based on the Price/Forward Earnings ratio, KEL is valued a bit more expensive than the industry average as 65.52% of the companies are valued more cheaply.
When comparing the Price/Forward Earnings ratio of KEL to the average of the S&P500 Index (22.10), we can say KEL is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.46 | ||
| Fwd PE | 20.67 |
4.2 Price Multiples
KEL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. KEL is more expensive than 72.41% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of KEL indicates a slightly more expensive valuation: KEL is more expensive than 60.34% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25.23 | ||
| EV/EBITDA | 14.04 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates KEL does not grow enough to justify the current Price/Earnings ratio.
KEL has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)5.39
PEG (5Y)N/A
EPS Next 2Y4.77%
EPS Next 3Y5.06%
5. Dividend
5.1 Amount
KEL has a Yearly Dividend Yield of 2.77%.
Compared to an average industry Dividend Yield of 3.35, KEL has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, KEL has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.77% |
5.2 History
The dividend of KEL has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years0
Div Non Decr Years5
5.3 Sustainability
57.78% of the earnings are spent on dividend by KEL. This is a bit on the high side, but may be sustainable.
KEL's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP57.78%
EPS Next 2Y4.77%
EPS Next 3Y5.06%
FRA:KEL (3/7/2025, 7:00:00 PM)
76.2
+0.02 (+0.03%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners82.7%
Inst Owner ChangeN/A
Ins Owners0.72%
Ins Owner ChangeN/A
Market Cap26.31B
Analysts66.67
Price Target79.19 (3.92%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.77% |
Yearly Dividend2.08
Dividend Growth(5Y)1.51%
DP57.78%
Div Incr Years0
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.91%
Min EPS beat(2)5.21%
Max EPS beat(2)8.62%
EPS beat(4)4
Avg EPS beat(4)9.97%
Min EPS beat(4)5.21%
Max EPS beat(4)16.18%
EPS beat(8)8
Avg EPS beat(8)10.44%
EPS beat(12)12
Avg EPS beat(12)9.99%
EPS beat(16)16
Avg EPS beat(16)9.96%
Revenue beat(2)1
Avg Revenue beat(2)-0.45%
Min Revenue beat(2)-1.26%
Max Revenue beat(2)0.37%
Revenue beat(4)1
Avg Revenue beat(4)-0.59%
Min Revenue beat(4)-1.26%
Max Revenue beat(4)0.37%
Revenue beat(8)4
Avg Revenue beat(8)0.4%
Revenue beat(12)8
Avg Revenue beat(12)1.05%
Revenue beat(16)11
Avg Revenue beat(16)1.09%
PT rev (1m)0.77%
PT rev (3m)1.22%
EPS NQ rev (1m)-3.32%
EPS NQ rev (3m)-3.4%
EPS NY rev (1m)0.22%
EPS NY rev (3m)0.01%
Revenue NQ rev (1m)-2.09%
Revenue NQ rev (3m)-2.21%
Revenue NY rev (1m)-0.97%
Revenue NY rev (3m)-1.25%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.46 | ||
| Fwd PE | 20.67 | ||
| P/S | 2.24 | ||
| P/FCF | 25.23 | ||
| P/OCF | 16.23 | ||
| P/B | 7.57 | ||
| P/tB | N/A | ||
| EV/EBITDA | 14.04 |
EPS(TTM)3.55
EY4.66%
EPS(NY)3.69
Fwd EY4.84%
FCF(TTM)3.02
FCFY3.96%
OCF(TTM)4.7
OCFY6.16%
SpS34.01
BVpS10.07
TBVpS-7.97
PEG (NY)5.39
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.59% | ||
| ROE | 35.58% | ||
| ROCE | 18.4% | ||
| ROIC | 14.28% | ||
| ROICexc | 15.23% | ||
| ROICexgc | 43.66% | ||
| OM | 15.83% | ||
| PM (TTM) | 10.53% | ||
| GM | 36.78% | ||
| FCFM | 8.88% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
ROICexc(3y)12.48%
ROICexc(5y)11.99%
ROICexgc(3y)36.74%
ROICexgc(5y)35.13%
ROCE(3y)15.6%
ROCE(5y)14.99%
ROICexcg growth 3Y9.44%
ROICexcg growth 5Y7.97%
ROICexc growth 3Y8.64%
ROICexc growth 5Y9.53%
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
F-Score7
Asset Turnover0.82
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.35 | ||
| Debt/FCF | 5.07 | ||
| Debt/EBITDA | 2.14 | ||
| Cap/Depr | 171.12% | ||
| Cap/Sales | 4.93% | ||
| Interest Coverage | 6.66 | ||
| Cash Conversion | 73.79% | ||
| Profit Quality | 84.29% | ||
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.56 | ||
| Altman-Z | 3.46 |
F-Score7
WACC8.14%
ROIC/WACC1.75
Cap/Depr(3y)144.93%
Cap/Depr(5y)131.73%
Cap/Sales(3y)4.42%
Cap/Sales(5y)4.17%
Profit Quality(3y)102.41%
Profit Quality(5y)100.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-7.45%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%17.95%
EPS Next Y3.98%
EPS Next 2Y4.77%
EPS Next 3Y5.06%
EPS Next 5Y7.66%
Revenue 1Y (TTM)-2.84%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-1.58%
Revenue Next Year1.36%
Revenue Next 2Y2.11%
Revenue Next 3Y2.45%
Revenue Next 5Y4.01%
EBIT growth 1Y31.55%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year26.19%
EBIT Next 3Y10.6%
EBIT Next 5Y9.37%
FCF growth 1Y16.94%
FCF growth 3Y-0.47%
FCF growth 5Y13.92%
OCF growth 1Y6.99%
OCF growth 3Y1.14%
OCF growth 5Y8.4%